‘Move to Earn’ in Metaverse is the New Strategy to get Free Cryptos

Mew forms of innovations like NFTs, Metaverse, and more, have all made rounds in the cryptocurrency space

The cryptocurrency space has proven to be a very dynamic space with endless possibilities and innovation-making rounds. We see these innovations very regularly in the cryptocurrency space, especially since the Decentralized Finance craze of 2020. Since the DeFi summer of 2020, new forms of innovations like NFTs, Play-to-Earn (P2E), Metaverse, Programmable Stablecoins, and so on, have all made rounds in the cryptocurrency space and have been the focus of investors' attention as more funds and investment are made in these industries/sectors. Move-to-earn is the current hype in crypto, following the popular play-to-earn model that most Metaverse and NFT coins adopted. As the name suggests, move-to-earn projects enable users to earn rewards for walking, running, dancing, or simply moving around. So, can we say Move-to-earn in the metaverse is the new strategy to get free cryptos? Let's find out.

What Makes M2E Exciting?

Move-to-Earn (M2E) apps allow users to earn passive income while engaged in routine physical activities. The move-to-earn gamification works similarly to play-to-earn wherein players completely own their in-game assets which can be exchanged for crypto or fiat money following their terms.

STEPN (GMT) has pioneered the move-to-earn concept which is now followed by other games like Dotmoovs (MOOV) and Genopets (GENE) that all revolve around the idea of rewarding or tokenizing physical movements. Some are still in beta version but it's definitely something to watch out for.

What's the hype all about?

The interest around STEPN is due to its governance token Green Metaverse Token (GMT) going parabolic, appreciating 24,500% since its token sale on Binance on March 9. Venture capital firm Sequoia Capital and other Web3 investors have also invested in STEPN, purchasing US$5 million worth of GMT in a seed funding round back in January. GMT's rise can be attributed to its rapid user growth as the larger crypto crowd caught on. For instance, STEPN's Twitter followers had hit 250,000 when it was just under 50,000 a month ago.

The Move-To-Earn Concept

For STEPN, the players will have to purchase NFT sneakers. These NFT collectibles are mintable and come in a variety of designs, rarity levels, and quality. These virtual assets can be purchased and sold in NFT open markets. STEPN runs on the SOLANA blockchain and each NFT sneaker is worth 10 SOL at the minimum or roughly around US$1,100.

You need to buy NFT sneakers to be tokenized in these move-to-earn apps. So, whenever the player would move like a simple walking, running, or jogging activity, the app would start tracking their movements and then converts them to in-game tokens.

Here are some of the best Move-to-earn tokens to watch

STEPN

STEPN is a self-styled "Web3 lifestyle app" with GameFi elements on the Solana blockchain. It combines aspects of a play-to-earn game with a fitness app to create a new category coined "move-to-earn." Users buy NFT sneakers, which they can use to earn in-game currency while walking, running, or jogging. STEPN aims to revolutionize the market of fitness applications by incentivizing millions of users to follow a healthier lifestyle. The app solves several problems like "proof of movement" – proving that users really exercised – and a functioning GPS system. Moreover, STEPN incentivizes users financially and plans to introduce social rewards elements and successfully contributes to carbon neutrality.

Dotmoovs

Dotmoovs is a remote peer-to-peer sports competition platform that will revolutionize the way people look at sports performance. The company has developed an AI algorithm that enables them to score sports tricks and movements with a simple video taken with a smartphone. Players will monetize their skills by investing $MOOVs in the platform.

Genopets

Genopets is the world's first Free-to-Play, Move-to-Earn NFT game on Solana that makes it fun and rewarding to live an active lifestyle. Genopets combines user's step data from their mobile device with blockchain Play-to-Earn economics so players can earn crypto for taking action in real life as they explore the Genoverse evolving and battling their Genopet.

Step

Launched in January 2022, Step (STEP) is a move-to-earn project that provides users with daily rewards for walking. The mobile app is currently available for users to check out on iOS and Android devices, and we recommend checking it out if you're looking to start earning rewards.

OliveX

OliveX (DOSE) is a gamified fitness ecosystem working to enhance real-world workout experience through the use of game design techniques and play-to-earn mechanics. OliveX allows players to both improve their physical shape and earn real-life revenue through gaming activity.